Podcast
Questions and Answers
What is the purpose of taking out life insurance in a stranger-originated life insurance transaction?
What is the purpose of taking out life insurance in a stranger-originated life insurance transaction?
Which of the following is NOT an essential element of an insurance contract?
Which of the following is NOT an essential element of an insurance contract?
Who does an agent typically represent in an insurance transaction?
Who does an agent typically represent in an insurance transaction?
When must an insurable interest exist in a life insurance policy?
When must an insurable interest exist in a life insurance policy?
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Which type of life insurance policy requires an agent to register with the NASD?
Which type of life insurance policy requires an agent to register with the NASD?
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What provision allows a policy owner to exchange a term policy for a whole life policy without providing proof of good health?
What provision allows a policy owner to exchange a term policy for a whole life policy without providing proof of good health?
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What is the underlying concept regarding level premiums?
What is the underlying concept regarding level premiums?
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On a life insurance policy, who is qualified to change the beneficiary designation?
On a life insurance policy, who is qualified to change the beneficiary designation?
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What happens to an incomplete life insurance application submitted to an insurer?
What happens to an incomplete life insurance application submitted to an insurer?
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When must a policyowner have insurable interest on the insured for the life policy to be valid?
When must a policyowner have insurable interest on the insured for the life policy to be valid?
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Who needs to initial changes made on an insurance application?
Who needs to initial changes made on an insurance application?
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What may happen to an applicant's risk category due to a health issue?
What may happen to an applicant's risk category due to a health issue?
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What dividend option should a young, married teacher with a Whole Life policy select to protect against inflation?
What dividend option should a young, married teacher with a Whole Life policy select to protect against inflation?
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How is accumulated interest earned on dividends from an insurance policy taxed?
How is accumulated interest earned on dividends from an insurance policy taxed?
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When can a policyowner change a revocable beneficiary?
When can a policyowner change a revocable beneficiary?
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Under the Common Disaster clause, what happens to the death proceeds if the policyowner and beneficiary are both killed in an accident?
Under the Common Disaster clause, what happens to the death proceeds if the policyowner and beneficiary are both killed in an accident?
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What type of beneficiary is a son if the policyowner can change the beneficiary designation at any time?
What type of beneficiary is a son if the policyowner can change the beneficiary designation at any time?
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Which type of beneficiary designation limits the policyowner's rights?
Which type of beneficiary designation limits the policyowner's rights?
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What type of group life insurance plan would a corporation have if its employees share in the cost of insurance?
What type of group life insurance plan would a corporation have if its employees share in the cost of insurance?
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What type of annuity does W have if she purchased an annuity to provide income for life starting at age 60?
What type of annuity does W have if she purchased an annuity to provide income for life starting at age 60?
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What type of annuity does T have if the contract guarantees an income payment for the rest of his life and guarantees payments to his son for 20 years if he dies before?
What type of annuity does T have if the contract guarantees an income payment for the rest of his life and guarantees payments to his son for 20 years if he dies before?
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What is an element of a Single Premium annuity?
What is an element of a Single Premium annuity?
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What type of annuity represents the largest possible monthly payment to an individual annuitant?
What type of annuity represents the largest possible monthly payment to an individual annuitant?
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What is a characteristic of an immediate annuity?
What is a characteristic of an immediate annuity?
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How long must a life insurance policy be in force before an insurance company must pay death benefits for suicide?
How long must a life insurance policy be in force before an insurance company must pay death benefits for suicide?
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Which of the following activities is NOT considered doing insurance business?
Which of the following activities is NOT considered doing insurance business?
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Which provision is NOT typically included in life insurance policies?
Which provision is NOT typically included in life insurance policies?
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What does a certificate of authority permit an insurance company to do?
What does a certificate of authority permit an insurance company to do?
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What must an agent do during a sales presentation for a participating life insurance policy?
What must an agent do during a sales presentation for a participating life insurance policy?
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What happens if an insurance company discovers an insured's age was misstated on the application for life insurance?
What happens if an insurance company discovers an insured's age was misstated on the application for life insurance?
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